Saudi Arabia and UAE are ‘regional locomotives’, French trade commissioner says
Dubai: Following the success of the first edition, Vision Golfe will hold its second edition from 4th to 5th June at the Ministry of Economy, Finance, Industry, Industry and Digital Sovereignty in Paris.
The benchmark event between France and the Gulf Cooperation Council countries aims to promote trade and economic relations, building on the long-standing relations between France and the GCC countries, in particular France and Saudi Arabia.
“There is a long history of friendship between France and the GCC countries. We are building bridges together based on mutual understanding, respect, mutual interests and ambitions, and the political bilateral relationship is undoubtedly the best. ,” Business France Middle East Trade and Investment Commissioner Axel Barrault said in an interview with French-language Arab News. .
“We have great and strong commercial and investment relationships, but we think we can do even more,” he added.
Vision Golfe is a platform to foster business cooperation in markets with high growth potential and provides an opportunity to meet with key economic players such as ministers, start-ups and senior executives.
“Vision Golfe is a tool and a starting point for negotiations and discussions. Discussions have continued throughout the year and trade and investment increased by almost 8 percent last year,” Barrow declared.
“If we take into account the figures for GCC investments in France, we reach 14 billion euros ($15.178 billion), precisely 13.7 billion euros,” he added, taking into account indirect investments. He pointed out that this figure is an underestimate because there is no such thing.
Despite the challenges facing the global economy, Gulf countries continue to provide a favorable environment for attracting investment and talent, with national policies focused on economic diversification, sustainable development, and energy transition. Masu. This creates a favorable atmosphere for establishing companies in various sectors. This includes sectors such as energy, new technology, healthcare, education, retail, and tourism.
As two of the region’s largest markets characterized by significant trade growth, Saudi Arabia and the UAE are today “the locomotives of the region,” Barrow said.
This explains the increasing number of French companies setting up operations in the Gulf and participating in major projects and trade.
Mr. Barrow addressed a delegation of French companies in Saudi Arabia, where more than 120 companies are participating in an event organized by Business France and MEDEF, in the presence of Business France Director General Laurent Saint-Martin and French Trade Advisor. Participation was emphasized. , Bruno Bohnel, Executive Director of Invest France 2030.
“We were well received. We signed contracts with STC and Business France. We also visited PIF and had discussions with MISA,” he added.
According to Barrow, the UAE offers opportunities for French companies in all sectors, with “more than 600 French companies based there, linked to direct employment, projects and strong economic ties”.
“There is a very strong and solid bilateral economic relationship between France and the GCC, which is why Vision Golf will be the annual gathering, the annual gathering, where all GCC and French companies come together. “There is reason to look forward to seeing you together in Paris,” he added.
expensivelight
Vision Golfe is a platform for exchange, networking and contract signing.
It aims to highlight the success stories of key partnerships that contribute to the Gulf strategy.
The program included an opening speech by Laurent Saint-Martin, CEO of Business France, in the presence of French and GCC ministers, and a two-day panel session and conference kickoff entitled “At the crossroads of Asia and Europe”. Includes a panel discussion on the “Gulf Coast.”
Thematic and sectoral discussions and roundtables will be on the agenda, covering topics such as, but not limited to:
• Integration of national strategies
• Building sustainable partnerships
• How to invest and set up a business in the Gulf region
• Energy for the future: Sustainable energy and resource management after COP28
• Opportunities for cooperation and investment in various fields.
• France as Europe’s most attractive destination for foreign direct investment
The second edition covers economic diversification, innovation, artificial intelligence, infrastructure, transportation development, and more.
The French touch and know-how will also be brought to life by Jean-Yves Le Drian, Chairman of the French AlUla Development Authority, Suliman Al Mazrouah, CEO of NIDLP, and Jamal Saif Al Jalwan, Executive Director of the UAE International Investors Council, as well as the Abu Dhabi Investment Authority, Mohammed・With the participation of groups from Bin Zayed University, Kuwait and Qatar, several points were made.
“Vision Golfe 2023 was a great success. Of course, we are looking forward to Vision Golfe 2024 as well. More B2B meetings, more partnerships, and even more interaction between French and GCC companies. This year at Vision Golf 2024, Several important agreements will be signed during the session,” Barrow said.